ChiniMandi, Mumbai: 15th November 2023
Domestic Market
Domestic sugar prices rose on lower monthly quota
Sugar prices were reported to be higher in the major domestic market due to a lower monthly quota.
In a notification issued on November 14, the government has released 8 lakh metric tonnes (LMT) of sugar for the second tranche of November’s domestic sales quota with extension of first tranche to November 30, 2023.
Earlier, the government had released the first tranche of the domestic sales quota, amounting to 15 LMT, which was valid till 15th November, 2023. Therefore, the total quota for the month of November now stands at 23 LMT.
In Kolhapur, S-grade sugar was priced between Rs 3,630 and Rs 3,660 per quintal, while M-grade sugar was priced between Rs 3,930 and Rs 3,980. According to Agrimandi.live, S grade sugar will trade for between Rs 3,600 and Rs 3,720 in Kolhapur markets over the next two weeks.
Ex-mill Sugar Prices as on November, 15 2023 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3620 to 3680 |
₹3720 to 3780 |
|
Karnataka |
₹3660 to 3685 |
₹3735 |
|
Uttar Pradesh |
|
– |
|
Gujarat |
Holiday |
Holiday |
|
Tamil Nadu |
₹3740 to 3850 |
₹3800 to 3900 |
|
Madhya Pradesh |
₹3750 to 3861 |
₹3850 to 3931 |
|
Punjab |
– |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on November, 15 2023 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,200.00 |
|
Kanpur |
M/30 |
₹4,158.00 |
|
Kolhapur |
M/30 |
₹3,927.00 |
|
Kolkata |
M/30 |
₹4,189.50 |
|
Muzaffarnagar |
M/30 |
₹4,158.00 |
International Market
At the time of writing this update London White Sugar #5 front month contract is trading at $744.00 ton, whereas the New York Sugar #11 front month contract is trading at 27.25 c/lb.
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 83.110 whereas USD was trading with BRL at 4.8626, Crude futures traded at ₹6458, Crude WTI traded at $77.78 barrel. Sensex closed 742.06 points higher at 65675.93 whereas Nifty ended 231.90 points higher at 19675.45
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